United States Natural Gas Fund (NYSEARCA:UNG) Shares Gap Down – Here’s Why

United States Natural Gas Fund LP (NYSEARCA:UNG) gapped down before the market opened on Tuesday . The stock had previously closed at $17.64, but opened at $16.73. United States Natural Gas Fund shares last traded at $16.93, with a volume of 955,547 shares.

United States Natural Gas Fund Stock Performance

The stock has a market cap of $1.01 billion, a price-to-earnings ratio of -11.60 and a beta of 0.17. The stock has a fifty day simple moving average of $16.08 and a two-hundred day simple moving average of $14.84.

Institutional Trading of United States Natural Gas Fund

Several institutional investors have recently added to or reduced their stakes in the stock. Hobbs Group Advisors LLC acquired a new position in shares of United States Natural Gas Fund in the 3rd quarter worth approximately $29,000. Daymark Wealth Partners LLC increased its stake in United States Natural Gas Fund by 17.2% during the 3rd quarter. Daymark Wealth Partners LLC now owns 19,250 shares of the exchange traded fund’s stock valued at $314,000 after purchasing an additional 2,825 shares in the last quarter. Sweet Financial Partners LLC increased its stake in United States Natural Gas Fund by 18.7% during the 3rd quarter. Sweet Financial Partners LLC now owns 21,125 shares of the exchange traded fund’s stock valued at $345,000 after purchasing an additional 3,325 shares in the last quarter. Private Wealth Partners LLC increased its stake in United States Natural Gas Fund by 100.0% during the 3rd quarter. Private Wealth Partners LLC now owns 20,000 shares of the exchange traded fund’s stock valued at $327,000 after purchasing an additional 10,000 shares in the last quarter. Finally, Freedom Investment Management Inc. bought a new stake in United States Natural Gas Fund during the 3rd quarter valued at $164,000.

United States Natural Gas Fund Company Profile

United States Natural Gas Fund, LP is a limited partnership. The Company is a commodity pool that issues limited partnership interests (shares) traded on the NYSE Arca, Inc (the NYSE Arca). The investment objective of the Company is for the daily changes in percentage terms of its shares’ per share net asset value (NAV) to reflect the daily changes in percentage terms of the spot price of natural gas delivered at the Henry Hub, Louisiana, as measured by the daily changes in the price of the futures contracts on natural gas traded on the New York Mercantile Exchange (the NYMEX) that is the near month contract to expire, except when the near month contract is within two weeks of expiration, in which case it will be measured by the futures contract that is the next month contract to expire (the Benchmark Futures Contract), less its expenses.